If the United States looks more economically and politically stable relative to the rest of the world, this will
A. have no effect on the demand for dollars.
B. increase the demand for dollars.
C. decrease the demand for dollars.
D. stop all trading between the currencies of the United States and other countries.
Answer: B
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In U.S. v. Addyston Pipe and Steel Company (1898), the Supreme Court ruled that
a. horizontal mergers were a violation of the Sherman Act. b. vertical mergers were a violation of the Sherman Act. c. collusive agreements among competing firms were a violation of the Sherman Act. d. mergers that created "corporate monoliths" were a violation of the Sherman Act.
The economic value which can be created by a transaction between two people, Ed (seller) and Luis (buyer), is $50 as Ed's opportunity cost of selling is $135 and Luis' valuation of the good is $185 . Suppose Ed and Luis do not speak the same language and Ed hires an interpreter who charges $2 per hour. Ed and Luis finally agree to a price of $160 . This implies:
a. Luis' valuation of the good will increase. b. Ed's opportunity cost will decline. c. economic value from the transaction will decline. d. Ed will receive to a lower benefit than Luis.
The basis of judgment for the Standard Oil case was ________, whereas the basis of judgment for the ALCOA case was ________:
A. market concentration; interlocking directorships. B. monopolistic abuses; market structure. C. market structure; market performance. D. unfair business practices; price discrimination.
Based on the table showing income inequality in the United States, what happened to the lowest fifth’s share of income between 1935 and 2017?
a. The percentage of income steadily dropped over time.
b. The percentage of income steadily increased over time.
c. The percentage of income dropped but then grew to higher than ever.
d. The percentage of income grew but then dropped to lower than ever.